AA Company maintained cash in bank at Lunar Bank. This account is used for disbursement to various suppliers and had P3,245,000 balance as of December 31, 2022. The selected items below are part of the recorded disbursements in 2022 which are not yet encash by the payee:

Check payable to a supplier dated 3/31/2022, released 3/1/2022	P215,000
Check payable to a supplier dated 12/30/2022, released 1/2/2022	195,000
Check payable to a supplier dated 12/31/2022, released 11/15/2022	320,000
Check payable to a supplier dated 1/4/2023, released 12/28/2022	100,000
Check payable to a supplier dated 12/26/2022, released 12/30/2022	185,000

What is the correct cash balance as of December 31, 2022?